Ted Baker warns on profits amid 'extremely difficult' conditions

Retailer says competition and low consumer spending could dent earnings by up to £20mTed Baker shares plunged by nearly 30% after the retailer warned on profits, saying that tough competition and falling consumer spending could knock up to £20m from earnings this year.The warning comes as the brand distances itself from its founder and former chief executive Ray Kelvin, who stepped down in March following allegations he acted inappropriately towards staff, subjecting them to “f